(Only the headline and picture of this report may have been reworked by the Business Standard staff the rest of the content is auto-generated from a syndicated feed. Meanwhile, the country's foreign exchange reserves declined by USD 3.007 billion to USD 561.046 billion in the week ended August 26, the Reserve Bank of India (RBI) data showed. On the domestic equity market front, the 30-share BSE Sensex was trading 243.2 points or 0.41 per cent higher at 60,036.34, while the broader NSE Nifty was up 76.55 points or 0.43 per cent to 17,909.90.įoreign institutional investors were net buyers in the capital market on Friday as they purchased shares worth Rs 2,132.42 crore, as per exchange data. The dollar index eased further on Monday as investors await cues from US CPI data this week. "Markets now await India's August inflation data, which is likely to trend higher to 6.90 per cent from 6.71 per cent in July, as per a poll, adding pressure on RBI to hike interest rates more aggressively in coming months," said Sriram Iyer, Senior Research Analyst at Reliance Securities. ![]() The global oil benchmark Brent crude futures fell 1.49 per cent to USD 91.46 per barrel. Indian Rupee USDINR (Tullett Prebon) search. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 108.75. View the latest USD to INR exchange rate, news, historical charts, analyst ratings and financial information from WSJ. On Friday, the rupee appreciated by 12 paise to close at 79.57 against the American currency. In initial deals, the local unit also touched 79.64 against the dollar. Nageswaran further said "the RBI is making sure that whatever direction the rupee is moving in line with the market trends is just gradual and doesn't impose burden either on importers or exporters.The rupee depreciated by 10 paise to 79.67 against the US dollar in opening trade on Monday, even as the equity market opened on a positive note.Īt the interbank foreign exchange market, the rupee opened at 79.66 against the greenback, then fell to 79.67, registering a decline of 10 paise over its last close. The rupee can take care of itself," Nageswaran said. I don't think Indian fundamentals are such that we need to defend the rupee. Meanwhile, Chief Economic Advisor V Anantha Nageswaran on Tuesday said India is not defending the rupee and the Reserve Bank of India is taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends. On the domestic macroeconomic front, retail inflation accelerated to 7 per cent in August driven by high food and fuel costs, while factory output plunged to a four-month low of 2.4 per cent. On the domestic equity market front, the BSE Sensex ended 455.95 points or 0.76 per cent higher at 60,571.08, while the broader NSE Nifty gained 133.70 points or 0.75 per cent to 18,070.05.įoreign Institutional Investors (FIIs) were net buyers in the capital markets, as they purchased shares worth Rs 2,049.65 crore on Monday, according to provisional data. The market participants’ pricing in the US consumer price data due later Tuesday, will show that inflation is near peaking, challenging the dollar-dominance narrative, Parmar added. ![]() The dollar gauge fell for the third consecutive day, the longest losing streak in a month, in the run-up to the CPI data. As of 13 September 2022, the current exchange rate of 1000 US Dollar is equal to 79,494.02 Indian Rupee. The dollar inflows from foreign institutions and corporates also supported the rupee," said Dilip Parmar, Research Analyst, HDFC Securities. "The Indian rupee registered the biggest one-day gains after July 27, amid long unwinding in the dollar and risk-on sentiments. The dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.40 per cent to 107.89.īrent crude futures, the global oil benchmark, advanced 0.96 per cent to USD 94.87 per barrel. It finally ended at 79.17, up 36 paise from its previous close of 79.53. It witnessed an intra-day high of 79.03 and a low of 79.33 during the session. ![]() The rupee appreciated by 36 paise to close at 79.17 (provisional) against the US dollar on Tuesday, tracking the dollar's decline versus its major peers and foreign fund inflows.Īt the interbank forex market, the local unit opened at 79.30 against the greenback.
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